Russian Sovcomflot advances in 2020 despite plunge in fourth quarter

Sovcomflot's tanker business plunged in the fourth quarter, but overall the company came out of the year with growth in TCE revenue and an increase in net profit of 18 percent to USD 267 million. Tanker makes up half of the business.

by DAG HOLMSTAD

Russian state-owned ship operator Sovcomflot saw an increase in both revenue and earnings last year from sea transport of LNG and LPG gas as well as offshore service in harsh environments with icebreakers.

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Russian Sovcomflot advances in 2020 despite plunge in fourth quarter

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Sovcomflot to raise more than USD 500 million on the Moscow stock exchange

Sovcomflot orders 10 LNG vessels together with Russian partner

Sovcomflot grows its result by more than 50 percent in first half-year

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Front page now

Singapore shipowners on green transition: Business comes first

French DB Schenker rival aims to close "white spots" on the world map

Liquidation company puts an end to crisis in North German shipping bank

"I just don't understand what they will do with all the conventional ships"

Bunker Holding is now able to supply biofuel to 80 ports

MSC acquires 50 percent of Italian railway company

Unifeeder invests in new methanol-ready vessels

Lloyd's Register and partners have designed environmentally friendly bulk carrier

US dockworkers union files for bankruptcy after prolonged dispute

Norway considers denying suspicious tankers access to its ports

Panama Canal once again limits the daily number of ships

Aker Solutions, Subsea 7 and SLB creates new joint venture

Further reading

French DB Schenker rival aims to close "white spots" on the world map

"I just don't understand what they will do with all the conventional ships"

MSC acquires 50 percent of Italian railway company

Media: Sale of DB Schenker enters next phase

It's time for DHL's new global head of ocean freight to prove he can be number one

Singapore shipowners on green transition: Business comes first

Jobs